PulteGroup adds $500M to stock buyback program

|About: PulteGroup, Inc. (PHM)|By:, SA News Editor

PulteGroup (NYSE:PHM) +1% after-hours on news that its board approved a $500M increase to its share repurchase authorization, raising the company's total buyback program to $762M.

PHM says it ended Q1 with $1.1B of cash and $1.8B of total available liquidity, allowing the flexibility to execute on its capital allocation objectives.

PHM also says it will begin a cash tender offer for $300M of its 4.250% senior notes due 2021.

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